Hanjin Shipping swings to loss in Q2 on falling rates

SEOUL, Aug. 7 (Yonhap) -- Hanjin Shipping Co., South Korea's leading shipper,
said Friday that it swung to a loss in the second quarter of the year from a year
earlier due to declining trade and falling rates.

Net loss reached 417 billion won (US$340 million) in the April-June period,
compared with a profit of 152 billion won a year earlier, the company said in a
regulatory filing.
Sales also dropped 25 percent to 1.67 trillion won over the cited period, with an
operating loss of 287 billion won from a profit of 83 billion won a year earlier.
Shares of Hanjin Shipping were trading at 20,700 won on the Seoul bourse as of
2:29 p.m., down 2.82 percent.
sam@yna.co.kr
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